Explain the impacts of academic entrepreneurship on academia and industry (please don't give a short answer and explain clearly)
Explain the impacts of academic entrepreneurship on academia and industry (please don't give a short answer and explain clearly)
Academic Entrepreneurship is somewhat similar to Entrepreneurship is someone with expertise having a strong desire to use that expertise to set up a business of their own. Academic Entrepreneurship is also known as University's third mission which aims to bring the academia, private sector and R&D together. It is related boosting the economic value of transfer and application of knowledge between academic world and business world.
Academic Entrepreneurship is basically the process in which an individual or group of individual linked through their research work at any institution forms a business venture in order to commercialize the results of their research.
Thus an Academic Entrepreneur is usually a university scientist, most often a professor or a PHD/ post doctoral student set up a business to commercialize the results of his or her research. The results of the research are used to set up a business and direct link is created between academia and industry.
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